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Sensex ends 700 points higher, Nifty closes near 24,000

Indian equity benchmarks bounced back sharply on Monday, snapping a five-session losing streak, as easing geopolitical tensions in the Middle East, a steep fall in crude oil prices and strong quarterly earnings fuelled a broad-based rally across Dalal Street.

The BSE Sensex surged 776.43 points, or 1.02%, to settle at 76,835.78, while the Nifty 50 climbed 227.90 points, or 0.96%, to close at 23,995.35, ending just below the key 24,000 mark. The recovery came after benchmark indices had witnessed sustained selling over the past week amid global uncertainty and profit booking.

Market participants said the rally was largely driven by improving global cues after the United States and Iran paused military action, easing concerns over disruptions to global crude oil supplies. The development triggered a sharp decline in Brent crude prices, providing significant relief to oil-importing economies such as India.

Lower crude oil prices are considered positive for the Indian economy as they help reduce inflationary pressures, narrow the current account deficit and lower input costs for several industries. The decline in oil prices also boosted hopes that corporate profit margins could improve in the coming quarters.

Positive global sentiment coincided with encouraging domestic earnings, prompting investors to return to equities. Buying was visible across sectors throughout the trading session, helping benchmark indices recover most of last week’s losses.

All major sectoral indices ended in positive territory, led by information technology, financial services, banking, consumer stocks and oil-linked sectors. Broader markets also mirrored the positive trend, with both mid-cap and small-cap indices closing over one per cent higher, indicating widespread participation in the rally.

Among the day’s top gainers were Infosys, Eternal, IDFC First Bank, AU Small Finance Bank, Asian Paints, CEAT and Kansai Nerolac.

Infosys emerged as one of the biggest contributors to the rally after attracting strong buying interest following favourable brokerage views and optimism surrounding technology spending. Shares of paint manufacturers and tyre companies also advanced as lower crude oil prices are expected to reduce raw material costs, improving margins.

Financial stocks also witnessed renewed buying as investors remained optimistic about steady credit growth and resilient demand despite global headwinds.

Despite the overall strength in the market, a few heavyweight stocks closed lower. HDFC Bank, Trent and Bharat Electronics Ltd (BEL) featured among the top losers on the benchmark indices. Analysts attributed the decline to stock-specific factors and profit booking rather than weakness in the broader market.

HDFC Bank continued to remain under investor scrutiny following recent governance-related developments. Although the stock underperformed during the session, analysts said the broader banking sector remained well supported by improving market sentiment and expectations of healthy loan growth.

Market experts said easing geopolitical tensions played a significant role in restoring investor confidence after heightened volatility over the past week. Concerns over rising oil prices had weighed heavily on global markets, but the latest developments eased fears of supply disruptions, encouraging investors to increase exposure to risk assets.

The ongoing first-quarter earnings season also remained a key driver for the market. Several companies have reported better-than-expected financial results, reinforcing confidence in India’s corporate earnings outlook despite an uncertain global environment.

Analysts noted that healthy earnings growth, coupled with improving macroeconomic indicators, continues to support the long-term investment case for Indian equities. Strong domestic demand, government infrastructure spending and resilient economic activity have also contributed to positive investor sentiment.

Foreign institutional investors (FIIs) showed signs of returning to Indian equities after recent selling, while domestic institutional investors continued to provide steady support. The combined buying by institutional investors helped sustain the rally throughout the day.

Market participants believe the sharp fall in crude oil prices could particularly benefit sectors such as aviation, logistics, paints, chemicals, tyres and consumer goods, where fuel and petroleum derivatives account for a significant share of operating expenses. Lower input costs are expected to improve profitability if crude prices remain stable in the coming months.

Going forward, investors will closely monitor the remaining quarterly earnings announcements, movement in global crude oil prices, foreign fund flows and developments in the Middle East. Global central bank decisions, particularly signals from the US Federal Reserve, are also expected to influence market direction.

Analysts believe volatility could persist in the near term as investors react to global developments. However, India’s strong economic fundamentals, healthy corporate earnings and improving investor confidence are expected to provide support to the market.

Monday’s equity market rally has offered much-needed relief to investors after several sessions of losses. With benchmark indices reclaiming important levels and buying emerging across sectors, Dalal Street has regained positive momentum.

If crude oil prices remain subdued and corporate earnings continue to exceed expectations, analysts expect the Sensex, Nifty, Indian stock market, Dalal Street, stock market today, Q1 earnings, oil prices and FII flows to remain key themes driving investor sentiment in the sessions ahead.

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SpaceX targets tower catch after starship success

SpaceX has moved a step closer to achieving fully reusable spaceflight after its 13th Starship test flight successfully completed several key mission objectives, including deploying next-generation Starlink satellites and making a controlled splashdown. Encouraged by the mission’s outcome, the company is now preparing for an even bigger milestone, attempting to catch the Starship spacecraft with the launch tower’s mechanical arms on its next test flight.

The latest mission marked one of the strongest performances in the Starship programme so far, giving engineers valuable data on the rocket’s systems, heat shield and overall flight performance. While some technical challenges remain, the successful test has strengthened confidence that SpaceX is making steady progress towards building a fully reusable launch system for future Moon and Mars missions.

Starship lifted off from SpaceX’s Starbase facility in Texas atop the Super Heavy booster, powered by 33 Raptor engines. After a smooth launch and stage separation, the upper-stage spacecraft continued into space, carrying 20 next-generation Starlink satellites. These satellites are designed to enhance SpaceX’s satellite internet network with greater capacity and faster connectivity.

Although the satellites were intentionally placed on a suborbital trajectory and burned up during re-entry, the mission allowed engineers to collect crucial performance data. The flight also successfully demonstrated an in-space restart of a Raptor engine, an important capability needed for future orbital operations, satellite deployments and deep-space missions.

One of the biggest achievements came during Starship’s return to Earth. The spacecraft survived atmospheric re-entry and completed a controlled splashdown in the Indian Ocean while remaining largely intact. Engineers were able to inspect the vehicle after landing, providing a rare opportunity to study the condition of its heat shield and thermal protection system following the intense heat of re-entry.

The intact splashdown is considered a major engineering milestone because it offers valuable insight into the performance of Starship’s more than 18,000 heat-shield tiles. Improving these tiles is critical to making the spacecraft reusable with minimal repairs between flights.

The mission was not entirely flawless. The Super Heavy booster failed to complete its planned landing after some engines did not restart during the final descent, causing it to fall into the Gulf of Mexico. Even so, SpaceX said the booster showed encouraging progress and generated important data that will help improve future recovery attempts.

Following the successful mission, SpaceX founder Elon Musk said the company is considering an ambitious new objective for the next Starship flight. If post-flight inspections reveal no major issues, SpaceX plans to attempt a “tower catch” of the Starship spacecraft using the giant mechanical arms at the launch site.

The company has already demonstrated this technique with the Super Heavy booster, but catching the Starship upper stage would be far more challenging because it returns from space at much higher speeds and temperatures. A successful catch would eliminate the need for ocean landings and significantly speed up rocket reuse.

Starship is central to SpaceX’s long-term vision of dramatically reducing the cost of space travel. The fully reusable rocket is expected to launch larger batches of Starlink satellites, support NASA’s Artemis programme to return astronauts to the Moon, and eventually carry humans and cargo to Mars.

NASA is relying on a modified version of Starship as the lunar lander for future Artemis missions. Before those missions can take place, however, SpaceX must continue demonstrating safe launches, controlled re-entries, orbital refuelling and reliable recoveries.

With Flight 13 delivering successful satellite deployment, an in-space engine relight and an intact splashdown, SpaceX has checked off several major milestones. The company now hopes the next mission will bring it even closer to routine, rapid rocket reusability with its first-ever tower catch of the Starship spacecraft itself.

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Sensex jumps 550 points, Nifty crosses 23,900

The markets staged a strong recovery on Monday, with benchmark indices rebounding after five straight sessions of losses. The BSE Sensex surged over 550 points, while the NSE Nifty crossed the 23,900 mark, as investors returned to equities amid easing geopolitical tensions, lower crude oil prices and optimism surrounding the ongoing corporate earnings season.

The rally was largely driven by a sharp decline in global crude oil prices after concerns over tensions in West Asia eased. As India imports nearly 85% of its crude oil requirement, lower oil prices are expected to reduce inflationary pressures, ease the country’s import bill and improve profitability for several sectors. This prompted investors to pick up beaten-down stocks across the market.

Buying was seen across most sectors, including banking, information technology, financial services, FMCG and power, helping both the Sensex and Nifty recover from last week’s steep decline. Positive global cues also supported investor sentiment, encouraging fresh buying in frontline stocks.

Among the biggest gainers on the benchmark indices were Infosys, NTPC, HCLTech, Axis Bank and TCS, all of which posted solid gains during the session. Technology stocks outperformed after improved global sentiment and favourable brokerage views, while banking shares rebounded on value buying after recent weakness.

On the other hand, ONGC and Coal India featured among the top losers as softer crude oil prices weighed on energy-related stocks. A few commodity-linked counters also witnessed profit booking even as the broader market remained firmly positive.

Corporate earnings continued to dictate stock-specific movements. Shares of IDFC First Bank, AU Small Finance Bank, NTPC and Tata Consumer Products remained in focus after reporting their quarterly results. Investors rewarded companies that delivered better-than-expected earnings or maintained a positive business outlook.

Lower crude oil prices also lifted shares of oil marketing companies, airline operators and other businesses that benefit from cheaper fuel costs. Companies in the paint, tyre and chemical sectors gained as falling crude prices are expected to reduce input costs and improve margins.

The Indian rupee strengthened against the US dollar during the session, supported by the decline in oil prices and the positive momentum in domestic equities. A stronger rupee further boosted confidence among investors.

Market participants said the recovery was fuelled by a combination of favourable global developments and bargain hunting after last week’s sharp correction. Investors also drew confidence from steady domestic institutional buying and encouraging corporate earnings, which helped offset concerns over foreign investor outflows.

Analysts, however, cautioned that volatility could continue in the coming days. The direction of crude oil prices, foreign institutional investor (FII) activity, global developments and upcoming quarterly earnings will remain key triggers for the market. They also believe the Nifty could face resistance near the 24,000 level, making it an important zone to watch.

Last week, Indian equities had come under heavy pressure as rising geopolitical tensions pushed Brent crude oil above $100 a barrel, raising fears of higher inflation and slower economic growth. The resulting sell-off led to the Sensex and Nifty registering five consecutive sessions of losses.

Monday’s rebound has restored confidence on Dalal Street, offering investors a much-needed breather after a turbulent week. While the recovery reflects improving global sentiment, market experts believe sustained gains will depend on stability in crude oil prices, strong corporate earnings and continued domestic buying in the sessions ahead.

Also Read: Flipkart CEO confirms food delivery launch

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HCLTech announces ₹14,250 cr AI investment in Odisha

HCLTech has announced a massive investment of ₹14,257 crore to set up its first artificial intelligence (AI) data centre in Odisha, marking one of the biggest private sector investments in India’s AI infrastructure. The project, being developed in partnership with AI startup Sarvam and the Odisha government, is expected to strengthen India’s sovereign AI capabilities while positioning the state as a major technology and innovation hub.

The announcement was made during the Odisha AI Summit 2026, where HCLTech signed a memorandum of understanding (MoU) with the state government. The proposed AI data centre will be established at the upcoming Odisha Sovereign AI Park in Bhubaneswar, a dedicated technology ecosystem designed to support next-generation AI research, computing and innovation.

The investment is seen as a significant step towards building India’s own AI infrastructure at a time when governments and businesses are increasingly looking for secure, locally hosted computing facilities. The project also aligns with the Centre’s broader push for Digital India, AI innovation, and data sovereignty, reducing dependence on overseas infrastructure for critical AI workloads.

According to HCLTech, the ₹14,257-crore project includes support and incentives from the Odisha government. The company said the facility will provide advanced computing power required for training and deploying large AI models while enabling enterprises, startups and public institutions to build AI-powered applications within India.

Unlike conventional data centres that mainly provide cloud storage and computing services, the new AI data centre will be equipped with specialised high-performance computing systems capable of handling complex generative AI models and large-scale machine learning applications. These capabilities are becoming increasingly important as organisations adopt AI across sectors such as healthcare, banking, manufacturing, education, agriculture and governance.

The project will combine HCLTech’s expertise in enterprise technology services with Sarvam’s indigenous AI foundation models. Sarvam, one of India’s leading AI startups, has been working on developing multilingual large language models and AI systems tailored to Indian languages and local use cases.

Together, the two companies plan to create AI solutions that address the specific needs of Indian enterprises and government agencies. The focus will be on delivering secure AI services while ensuring that sensitive data remains within the country, an important requirement for sectors dealing with confidential public and financial information.

HCLTech Chairperson Roshni Nadar Malhotra described the investment as a landmark initiative that reflects the company’s commitment to India’s AI ambitions. She said HCLTech has played a key role in India’s technology journey over the years and now aims to contribute to the country’s emerging sovereign AI ecosystem through long-term investments and strategic partnerships.

She added that the collaboration with the Odisha government and Sarvam would help create an AI ecosystem that supports innovation while enabling India to develop world-class technology capabilities.

HCLTech CEO and Managing Director C. Vijayakumar said the project represents a major milestone in the company’s full-stack AI strategy. He noted that enterprises worldwide are rapidly increasing investments in artificial intelligence, creating strong demand for reliable AI infrastructure.

According to him, Odisha has emerged as an attractive destination for advanced technology investments because of its progressive industrial policies, skilled workforce and improving digital infrastructure. He said the company looks forward to building a robust AI ecosystem in the state that can support customers across India and global markets.

Sarvam Co-founder Vivek Raghavan said the partnership would help accelerate India’s journey towards becoming a global AI leader. He noted that access to domestic computing infrastructure is essential for developing AI models designed specifically for India’s languages, businesses and public services.

Industry experts believe the project will play a crucial role in reducing India’s dependence on foreign AI infrastructure. Most advanced AI models today rely on expensive computing facilities located outside the country. Building high-performance AI infrastructure within India is expected to improve data security, lower operational costs and encourage domestic AI innovation.

The Odisha government has also described the investment as a milestone in its efforts to transform the state into a major technology destination. Officials believe the AI data centre will attract additional investments in cloud computing, semiconductor technologies, AI research and digital services, creating a larger innovation ecosystem around Bhubaneswar.

Alongside the AI data centre, HCLTech has signed a separate agreement with the state government to establish a Global Technology Center in Bhubaneswar. The new campus will have the capacity to accommodate around 5,000 technology professionals and is expected to become operational by 2028.

The technology centre will support software engineering, AI development, cloud services and digital transformation projects while creating high-skilled employment opportunities for engineers and technology graduates from Odisha and neighbouring states.

The twin projects are expected to significantly boost the state’s digital economy while encouraging startups, research institutions and academic organisations to collaborate on AI innovation. Industry observers believe the presence of advanced computing infrastructure will make it easier for Indian startups to build and test AI products without relying heavily on overseas cloud providers.

The announcement also follows HCLTech’s recent strategic investment in Sarvam, reinforcing the company’s ambition to expand beyond traditional IT services into AI platforms, enterprise AI applications and next-generation digital infrastructure.

Also Read: India eases FDI rules for e-commerce exports

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Bank of Baroda posts 72% profit decline in Q1

State-owned Bank of Baroda (BoB) reported a sharp 72% year-on-year decline in standalone net profit for the first quarter of FY27, as a one-time legal settlement linked to the NMC Health case significantly impacted its earnings. Despite the steep drop in profit, the bank delivered a healthy operational performance, with steady growth in net interest income (NII), loans and deposits, highlighting the strength of its core banking business.

The public sector lender posted a standalone net profit of ₹1,278 crore for the April-June quarter, compared with ₹4,541 crore in the corresponding period last year. On a sequential basis as well, profit declined sharply from the March quarter. However, the fall was not due to weakness in lending or business operations but was largely driven by an exceptional one-time expense.

The biggest factor behind the earnings decline was a ₹5,680 crore exceptional charge that the bank recognised during the quarter after reaching a settlement in the long-running NMC Health litigation. Earlier this month, Bank of Baroda agreed to pay $600 million under an out-of-court settlement to resolve claims related to the collapse of UAE-based healthcare company NMC Health.

The bank clarified that entering into the settlement does not amount to an admission of liability or wrongdoing. Instead, it said the agreement was aimed at bringing closure to a legacy legal issue that had remained unresolved for several years. The settlement removes a major overhang that had created uncertainty for investors and allows the bank to move forward without prolonged legal proceedings.

Although the exceptional charge weighed heavily on profitability, the bank’s underlying business continued to perform well. Net Interest Income (NII), which measures the difference between interest earned on loans and interest paid on deposits, increased by around 10% year-on-year. The growth reflected healthy credit demand and the bank’s ability to expand its interest-earning assets despite a competitive banking environment.

Bank of Baroda also recorded strong business growth during the quarter. Gross advances rose 17.4% year-on-year, supported by healthy demand across retail, corporate, agriculture and overseas loan segments. The retail portfolio continued to remain a key growth driver, while corporate lending also showed resilience amid improving economic activity.

Deposits also maintained a healthy trajectory, increasing 13.8% year-on-year. The steady rise in deposits indicates continued customer confidence and provides the bank with a strong and stable funding base to support future lending growth. Strong deposit mobilisation remains a key focus area for banks as competition for low-cost deposits continues across the sector.

The bank reported total income of ₹36,681 crore during the quarter, registering modest growth over the previous year. Higher interest income contributed to the increase, although operating profit came under pressure because of the exceptional settlement cost and higher operating expenses.

Another encouraging aspect of the quarterly performance was the bank’s asset quality, which remained stable. Gross and net non-performing asset (NPA) ratios continued to stay under control, reflecting prudent lending practices and effective credit monitoring. Stable asset quality is particularly significant at a time when banks are balancing strong credit growth with cautious risk management.

In another important development, the bank’s board approved an increase in the borrowing limit for its overseas operations. The ceiling for raising funds through international borrowings has been doubled from $5 billion to $10 billion. The enhanced limit is expected to provide greater flexibility in accessing global funding markets and supporting the bank’s expanding international business.

Market analysts said the June-quarter results should be viewed in the context of the one-time settlement rather than as a reflection of the bank’s operational performance. Excluding the exceptional charge, the lender’s core fundamentals remain healthy, supported by steady loan growth, improving business volumes and stable asset quality.

Investors are now expected to closely monitor key financial indicators such as net interest margin (NIM), credit growth, deposit mobilisation, operating profitability and asset quality in the coming quarters. These metrics will provide a clearer picture of the bank’s earnings trajectory after the impact of the settlement fades.

The resolution of the NMC Health litigation is also being viewed positively by several market observers. With the legal uncertainty behind it, Bank of Baroda can now focus more aggressively on business expansion, digital banking initiatives, customer acquisition and improving shareholder returns. The removal of this legacy issue is expected to strengthen investor confidence over the medium term.

Industry experts believe the exceptional charge is unlikely to have a lasting impact on the bank’s long-term growth story. India’s banking sector continues to benefit from healthy credit demand, improving economic activity and rising consumption, creating favourable conditions for lenders with strong balance sheets and diversified loan portfolios.

While the June-quarter profit numbers may appear weak at first glance, the broader picture remains far more encouraging. Bank of Baroda’s strong loan growth, healthy net interest income, stable asset quality and expanding deposit base demonstrate that its core banking franchise remains resilient. With the NMC settlement now behind it and a major legal uncertainty resolved, the public sector lender is expected to focus on strengthening profitability, expanding its lending business and delivering sustainable growth in the quarters ahead.

Also Read: Adani Group rejects airline venture speculation

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Sensex falls 330 points, Nifty nears 23,770

Indian equity markets ended lower on Friday as investors booked profits amid weak global cues and cautious sentiment ahead of key economic developments. Selling in heavyweight banking and information technology stocks dragged the benchmark indices lower, outweighing gains in select pharmaceutical shares.

The BSE Sensex declined 331 points, or 0.43%, to settle at 76,059, while the NSE Nifty 50 slipped 102 points, or 0.43%, to close at 23,767. The benchmarks traded in negative territory for most of the session as investors remained cautious amid mixed global signals and corporate earnings.

Among the top gainers on the Sensex were Cipla, Sun Pharma, Asian Paints and Nestle India, supported by buying in defensive sectors such as pharmaceuticals and consumer goods. These stocks attracted investor interest as markets turned risk-averse.

On the other hand, Infosys, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank were among the biggest losers of the day. Selling in these heavyweight stocks put significant pressure on the benchmark indices and prevented any meaningful recovery during the session.

Market experts said profit booking after the recent rally, coupled with weak global sentiment, prompted investors to reduce exposure to large-cap stocks. Banking and IT shares witnessed the sharpest selling as traders turned cautious ahead of upcoming global economic data and further corporate earnings announcements.

Global markets also offered little support. Asian equities largely closed lower following mixed cues from Wall Street, while uncertainty surrounding global growth, trade developments and interest rate expectations kept investor sentiment subdued. Volatility in crude oil prices also added to market concerns.

Higher crude oil prices remain a key risk for India, as rising import costs can increase inflationary pressures and impact corporate margins. Investors therefore remained cautious despite strong domestic economic fundamentals.

The broader market mirrored the weakness seen in benchmark indices. Mid-cap and small-cap stocks also witnessed selling pressure, although declines were relatively contained in some sectors. Analysts noted that investors preferred quality large-cap stocks with strong earnings visibility while avoiding riskier bets.

Sector-wise, banking, financial services and information technology emerged as the biggest losers, while pharmaceutical and FMCG stocks outperformed the broader market. Defensive buying in healthcare shares helped limit the overall decline.

Foreign institutional investors (FIIs) continued to adopt a cautious stance amid global uncertainties, while domestic institutional investors provided selective support. Analysts believe institutional fund flows will remain an important driver of market direction in the coming weeks.

Investors are also closely tracking the ongoing corporate earnings season, with quarterly results expected to influence stock-specific movements. Strong earnings from select companies could help improve market sentiment, while weaker-than-expected numbers may keep volatility elevated.

The primary market, meanwhile, continues to remain active, with several large IPOs attracting healthy investor interest. Market participants believe robust participation in public issues reflects confidence in India’s long-term economic growth despite short-term fluctuations in secondary markets.

Analysts said Friday’s decline should be viewed as a normal market correction rather than a sign of weakening fundamentals. India’s economy continues to benefit from strong domestic consumption, steady infrastructure spending and improving corporate performance, which are expected to support equities over the long term.

Going forward, investors will monitor global market trends, crude oil prices, foreign fund flows, inflation data and central bank commentary for fresh cues. Corporate earnings and macroeconomic indicators are also expected to determine the near-term direction of the stock market.

Market participants will now turn their attention to upcoming corporate earnings, FII flows, global cues and crude oil prices for fresh direction. Analysts expect these factors to shape investor sentiment and determine whether the benchmark indices can regain momentum in the week ahead.

Also Read: Infosys names Ashiss Kumar Dash CEO-Designate

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AMD launches Helios AI System to challenge Nvidia

Advanced Micro Devices (AMD) has taken a major step in the artificial intelligence race by unveiling Helios, a next-generation AI infrastructure system designed to compete directly with Nvidia’s dominant AI computing platform. The announcement signals AMD’s biggest push yet to win a larger share of the rapidly expanding AI chip market, where demand for powerful hardware continues to surge as businesses invest heavily in generative AI.

The Helios system was introduced as part of AMD’s broader strategy to offer customers a complete AI computing platform instead of just standalone chips. By combining advanced AI accelerators, high-performance processors, networking technology and open software, AMD hopes to provide enterprises with an alternative to Nvidia’s widely used AI infrastructure.

At the heart of the new platform are AMD’s upcoming Instinct MI500-series AI accelerators, which are expected to power the Helios system when it launches in 2027. These next-generation chips will succeed the company’s MI350 series and are designed to deliver significantly higher performance for training and running large artificial intelligence models.

AMD says Helios has been built to meet the growing demand for AI data centres capable of handling increasingly complex workloads. As companies develop larger language models and AI-powered applications, they require faster processors, greater memory capacity and high-speed networking to support billions of calculations every second. Helios aims to address those requirements through a tightly integrated computing platform.

A major boost for AMD came from Microsoft, which confirmed its support for the Helios platform. Microsoft plans to continue working closely with AMD as it expands AI infrastructure across its cloud business. The partnership is seen as an important endorsement because Microsoft is one of the world’s largest buyers of AI chips and data centre hardware.

Microsoft executives said the company wants greater diversity in AI hardware suppliers as demand continues to grow rapidly. While Nvidia remains the market leader, cloud providers are increasingly looking for additional options to reduce costs, improve supply flexibility and encourage greater competition in the AI ecosystem.

AMD Chief Executive Officer Lisa Su said the artificial intelligence market is entering a new phase where customers need complete AI solutions rather than individual components. According to her, Helios combines AMD’s processors, GPUs, networking technologies and software into a unified platform capable of supporting the world’s most demanding AI workloads.

The announcement comes as competition in AI infrastructure intensifies. Nvidia currently dominates the AI accelerator market with its powerful GPUs and integrated AI systems, which are widely used by companies including OpenAI, Meta, Amazon and Microsoft. However, rivals such as AMD and Intel are investing billions of dollars to challenge Nvidia’s leadership as spending on AI hardware continues to accelerate.

Industry analysts believe AMD’s strategy of offering an open ecosystem could appeal to businesses seeking greater flexibility. Unlike proprietary platforms, AMD supports open software standards that allow developers to build AI applications without being tied to a single vendor. This approach may attract enterprises looking to diversify their AI infrastructure.

The company also highlighted advances in its AI software stack, which has become increasingly compatible with leading machine learning frameworks. Improving software support is considered critical because developers want AI applications to run efficiently regardless of the underlying hardware.

The AI chip industry has become one of the fastest-growing segments in global technology, driven by the explosive popularity of generative AI. Companies across healthcare, finance, manufacturing, retail and software are investing in AI-powered tools that require massive computing resources. This has fuelled unprecedented demand for AI processors and data centre infrastructure.

Despite AMD’s ambitious plans, Nvidia remains the benchmark in AI computing with its mature hardware ecosystem, extensive developer tools and long-standing relationships with major cloud providers. Analysts say Helios represents AMD’s strongest attempt yet to narrow that gap, but widespread adoption will depend on its real-world performance, software compatibility and customer confidence once the platform becomes available.

For businesses investing in artificial intelligence, increased competition could prove beneficial. More AI hardware choices are expected to drive innovation, improve performance and reduce costs over time. As AI becomes central to digital transformation strategies worldwide, technology companies are racing to build the infrastructure that will power the next generation of intelligent applications.

With Helios, AMD has made its intentions clear. Rather than competing only in AI chips, the company is positioning itself as a full-scale AI infrastructure provider. Backed by Microsoft and a roadmap of increasingly powerful AI accelerators, AMD is preparing for a long-term battle with Nvidia in one of the technology industry’s most valuable and strategically important markets.

Also Read: Fintechs oppose NPCI’s default UPI plan

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Fintechs oppose NPCI’s default UPI plan

India’s digital payments ecosystem is witnessing fresh tensions as several fintech companies have raised strong objections to a proposed NPCI feature that would allow users to complete Unified Payments Interface (UPI) transactions using a pre-selected default payment app with a single click. Smaller payment firms argue that while the move promises greater convenience, it could significantly strengthen the dominance of market leaders such as PhonePe and Google Pay, making it harder for smaller players to compete.

The proposal, currently being evaluated by the National Payments Corporation of India (NPCI), is part of a broader initiative to simplify UPI payments by reducing the number of steps required during online checkouts. Under the plan, users would choose a preferred UPI app once, and future transactions on participating merchant platforms would automatically open that app instead of displaying a list of available payment applications.

Several fintech companies have urged NPCI to reconsider the proposal, warning that it could reshape India’s highly competitive digital payments market in favour of the biggest platforms. According to industry executives, most smartphone users are unlikely to change their default payment app once it is set. As a result, larger apps with an established customer base could attract an even bigger share of transactions, leaving smaller UPI applications with fewer opportunities to acquire or retain users.

Industry participants believe the proposal may unintentionally create a “winner takes most” environment. They argue that the current UPI checkout process, which allows users to choose from multiple payment apps for every transaction, encourages healthy competition by giving all apps equal visibility. Removing that choice at the payment stage, they say, could gradually reduce traffic to emerging fintech platforms.

Companies opposing the proposal include smaller UPI service providers and payment startups that have written to NPCI, expressing concerns over its potential impact on innovation and market diversity. They have suggested that instead of introducing a permanent default option, NPCI should preserve user choice or explore alternative methods that do not favour larger players.

The issue comes at a time when PhonePe and Google Pay together account for the overwhelming majority of UPI transactions in India. According to industry data, the two platforms collectively process more than 80 per cent of all UPI payments, while the remaining market is shared among Paytm, Cred, Amazon Pay, Navi, Super.money and several other payment apps. Smaller firms fear the proposed feature could widen this gap even further.

Supporters of the proposal, however, argue that it would improve the user experience by making digital payments faster and more seamless. A one-click checkout could reduce transaction time, eliminate the need to select an app repeatedly and lower the chances of users abandoning purchases during the payment process. Merchants are also expected to benefit from quicker checkouts and potentially higher payment completion rates.

NPCI has reportedly described the feature as an optional convenience rather than a mandatory system. Users would still be able to change their preferred payment app whenever they wish. However, critics believe that in practice, very few customers regularly revisit default settings, meaning early market leaders would enjoy a lasting advantage.

The debate highlights a broader challenge facing India’s rapidly expanding digital payments ecosystem: balancing innovation with fair competition. UPI has become the backbone of the country’s digital economy, processing billions of transactions every month across online shopping, bill payments, peer-to-peer transfers and merchant payments. Any change to the payment flow therefore has far-reaching implications for consumers, merchants and fintech companies alike.

Industry experts say maintaining an open and competitive UPI ecosystem has been one of the key reasons behind its remarkable success. Since its launch, UPI has enabled both established companies and startups to build innovative payment solutions on a common platform. Many fintech firms now worry that reducing visibility for smaller apps could discourage future innovation and investment.

NPCI has not announced a final decision on the proposal and is understood to be reviewing feedback received from stakeholders across the payments industry. The organisation is expected to hold further consultations before deciding whether and how the feature should be rolled out.

For consumers, the proposal presents a trade-off between convenience and choice. While faster one-click payments could simplify everyday transactions, industry players believe preserving a level playing field is equally important to ensure continued innovation, competitive pricing and better digital payment services. As India’s UPI ecosystem continues to evolve, the outcome of the discussions could shape the future of the country’s digital payments landscape for years to come.

Also Read: Google’s Gemini surges to 950 mn monthly users

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Manipal Health launches ₹9,275 cr IPO next week

Manipal Health Enterprises has announced the price band for its highly anticipated ₹9,275 crore initial public offering (IPO) at ₹560-590 per share. The public issue will open for subscription on July 29 and close on July 31, making it one of the largest IPOs by an Indian healthcare company.

The Bengaluru-based hospital chain, which operates the Manipal Hospitals network, is looking to raise funds to strengthen its financial position and support future expansion. The IPO consists of a fresh issue of shares worth ₹8,000 crore, while the remaining amount will come through an offer for sale (OFS) by existing shareholders.

The bidding process for anchor investors is scheduled for July 28, a day ahead of the public issue. Following the subscription period and allotment process, the company’s shares are expected to be listed on both the BSE and NSE.

The fresh capital raised through the IPO will largely be used to repay debt, helping the company improve its balance sheet. Manipal Health has said reducing borrowings remains a key priority, and the fundraising is expected to significantly lower its debt levels after listing.

Apart from debt repayment, the hospital operator plans to accelerate its expansion plans. The company intends to invest nearly ₹4,000 crore over the next three to four years to add around 2,400 hospital beds across its network. At present, Manipal Health operates 49 hospitals with a combined capacity of more than 13,000 beds, making it one of India’s largest healthcare providers.

The IPO also offers an exit opportunity for some existing investors. Global investment firms Temasek and TPG-backed entities are among the shareholders that will partially dilute their stakes through the offer for sale.

Market participants are closely tracking the issue, with the IPO drawing attention even before subscriptions begin. Grey market trends currently suggest a positive listing premium, although analysts caution that such unofficial indicators should not be viewed as a guarantee of listing-day performance.

India’s healthcare sector has witnessed strong momentum in recent years, driven by increasing demand for quality medical services, rising health insurance coverage, higher healthcare spending and greater awareness among patients. Large hospital chains have also continued expanding into new cities to meet growing demand for advanced medical care.

Manipal Health has strengthened its position through both organic growth and strategic acquisitions over the years. The company now competes with major listed hospital operators such as Apollo Hospitals, Max Healthcare and Fortis Healthcare, making it one of the country’s leading integrated healthcare networks.

The IPO comes at a time when India’s primary market continues to witness healthy investor participation despite global economic uncertainties. Strong demand for recent public issues has encouraged several companies across sectors to tap the capital markets.

For investors, Manipal Health’s public issue represents an opportunity to participate in India’s expanding healthcare industry. However, experts recommend evaluating the company’s financial performance, future growth strategy, valuation and associated risks before investing, instead of relying only on grey market sentiment.

With an extensive hospital network, ambitious expansion plans and a clear focus on improving its financial strength, Manipal Health’s ₹9,275 crore IPO is expected to be one of the most closely watched public offerings in the Indian stock market this year.

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Corporate

Shadowfax shares slide after ₹1,047 cr block deal

Shares of Shadowfax Technologies came under heavy selling pressure on Thursday after a ₹1,047 crore block deal changed hands in the market, triggering concerns over stake dilution and prompting investors to book profits. The stock fell as much as 7% during intraday trade before recovering some losses to close lower, making it one of the biggest laggards of the session.

According to market reports, around 1.98 crore shares, representing nearly 5.4% of the company’s equity, were traded through multiple block deals. The transactions were executed at an average price of around ₹530 per share, which was at a discount to the previous day’s closing price. The discounted sale put pressure on the stock soon after trading began.

While the identities of all buyers were not immediately disclosed, reports suggested that Flipkart, one of Shadowfax’s early investors, was among the likely sellers. Some other existing shareholders were also believed to have participated in the transaction as part of their portfolio rebalancing. However, there was no official confirmation from the company or the investors regarding the exact participants in the deal.

The block deal sparked a sharp reaction on Dalal Street, with investors interpreting the large share sale as a sign of profit booking by early backers following the company’s recent stock market debut. Analysts noted that such transactions are common after the expiry of lock-in periods, allowing early investors to monetise part of their holdings.

Despite Thursday’s decline, market experts said the block deal does not necessarily reflect the company’s operational performance or long-term growth prospects. Instead, they described it as a financial decision by existing shareholders seeking to partially exit their investment after years of holding the stock.

Shadowfax, one of India’s leading logistics and last-mile delivery companies, has built a strong presence in the fast-growing e-commerce and quick commerce sectors. The company provides delivery solutions for online retailers, direct-to-consumer brands, grocery platforms and businesses across the country.

Over the past few years, Shadowfax has expanded rapidly by leveraging technology, a large delivery partner network and increasing demand for faster deliveries. The company has benefited from the continued growth of India’s digital economy, where online shopping and hyperlocal delivery services have become increasingly popular.

Investors have closely tracked the company’s performance since its listing, viewing it as a play on India’s expanding logistics and supply chain sector. However, Thursday’s large block transaction temporarily overshadowed the company’s business fundamentals, leading to increased selling pressure during the trading session.

Market analysts explained that block deals involving large institutional investors often create short-term volatility because of the significant volume of shares changing hands at discounted prices. Such transactions can temporarily impact investor sentiment even when the company’s underlying business remains unchanged.

Some experts also pointed out that early investors, including venture capital and private equity firms, typically reduce their holdings gradually after a company goes public. These exits help investors realise returns while improving the stock’s public float and liquidity over time.

Despite the sharp fall, analysts believe Shadowfax remains well positioned to benefit from India’s growing logistics market. Rising e-commerce penetration, increasing online consumer spending and the rapid expansion of quick commerce platforms continue to drive demand for efficient delivery services across urban and semi-urban markets.

The company has also been investing in technology, automation and network expansion to strengthen its delivery capabilities. These initiatives are expected to support long-term growth as businesses increasingly rely on organised logistics providers for faster and more reliable deliveries.

For investors, Thursday’s decline serves as a reminder that large institutional stake sales can create short-term market volatility, even when there are no changes to a company’s business outlook. Analysts advise investors to focus on fundamentals such as revenue growth, profitability, competitive positioning and future expansion plans rather than reacting solely to block deal activity.

While the ₹1,047 crore block deal weighed on the stock in the near term, market participants will now watch whether fresh institutional buying emerges in the coming sessions. The company’s long-term prospects are expected to depend more on its ability to capitalise on India’s booming logistics industry than on temporary movements caused by shareholder exits.

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